01:47 PM EDT, 05/28/2025 (MT Newswires) -- Prosper Gold ( PGXFF ) was higher Wednesday afternoon after earlier announcing that field crews had been mobilized and preparations were being made to facilitate the upcoming diamond drilling activities at the Cyprus Project.

The company said drilling will follow up on results of the ground-based Induced Polarization (IP) survey completed at Target A in March.

"Our first three holes drilled at this newly identified target confirmed the presence of porphyritic intrusions and quartz-sericite-pyrite alteration," said Prosper Gold ( PGXFF ) Chief Executive Peter Bernier in a statement. "Results from the March 2025 ground IP survey have revealed a 2,600 by 800 metre area of higher chargeability roughly 1 kilometre to the southwest. We will be testing this highly chargeable portion of the system in this next round of drilling."

Prosper Gold ( PGXFF ) said the upcoming diamond drilling program, scheduled to commence in early June, will test a pronounced IP chargeability high that coincides with a resistivity high in the immediate hanging wall of a regional northwest trending fault. "The geophysical interpretation of the IP results suggests the potential for a body of sulphides associated with intrusive rock and/or potassic alteration potentially associated with the high temperature portion of a porphyry system," it added.

Shares of the company were last seen up $0.01 at $0.085 on the TSX Venture Exchange.

Price: 0.09, Change: +0.01, Percent Change: +13.33